According to information published on June 14, 2022 by the international central securities depository Clearstream Banking[1], the process of transferring depository receipts issued for Russian shares to the account of issuers of depository receipts has been suspended until further clarifications are received from the competent authorities regarding the impact of new EU sanctions. In this regard, before sending the Client Application for opening a type “C” depo account under the simplified procedure to the Gazprombank depository, we advise that you consult with the broker maintaining records with respect to your depositary receipts about the possibility of converting depositary receipts into shares.
If the broker maintaining records with respect to your depositary receipts confirms that it is impossible to convert DRs, before making a decision to initiate the opening of a type “C” securities account following a simplified procedure, we recommend that you consult a lawyer or tax consultant on the advisability of having the above depo account with a Russian bank.
If the broker maintaining records with respect to your depositary receipts informs that it is possible to convert DRs, we ask you to re-send the Client Application in response to this letter.
[1] The information can be found on the official website of the company in the section «Products and Services» - «Settlement»: clearstream.com /clearstream-en/products-and-services/settlement/a22079-3114440 |